We should add by stating that the writer gains no
benefit from allowing the current types of Riba transactions
by comparing them to as-Salam transactions. As-Salam
type of transactions was allowed because Allah allowed it,
a fact that demonstrates the greatness of the Islamic
legislation that aims to benefit the Muslim Ummah at large.
Further, Allah restricted the Salam type of transactions in a
way that made it different from the disallowed types of
business transactions. As-Salam entails the promise of
delivering a certain good with known characteristics on a
certain future date, but the profit is paid on the spot. Both
the seller and the buyer share in the benefit of As-Salam:
the seller benefits from the price to spend on his current
needs, and the buyer benefits from the Salam when he
receives it since he bought it for a lesser price. Hence, both
parties to the Salam transaction gain a benefit, none of them
is harmed in any way, as there is no Riba (usury, addition,
or interest) in this case, and finally, no goods with an
unknown quality are being sold. As for the Riba
transactions, they involve a certain addition to the principal
with the payment differed, or bartering goods for a larger
amount of the same type of good. Allah, the Most Wise,
Who legislates what brings all types of benefits to Muslims,
made Riba transactions a major sin16. Consequently, the
{Those who eat Ribâ will not stand (on the Day of Resurrection)
except like the standing of a person beaten by Shaitân (Satan)
leading him to insanity. That is because they say: “Trading is
only like Ribâ,” whereas Allâh has permitted trading and
forbidden Ribâ. So whosoever receives an admonition from his
Lord and stops eating Ribâ, shall not be punished for the past;
his case is for Allâh (to judge); but whoever returns (to Ribâ),
such are the dwellers of the Fire — they will abide
therein}[2:275]. Al-Bukhari reported, without a chain of
narration, that `Abdullah ibn `Abbas, may Allah be pleased with
him, said that the last Ayah to be revealed to Allah's Messenger,
salla allahu `alaihi wa-sallam, was this Ayah,
{O, you who believe! Be afraid of Allâh and give up what
remains (due to you) from Ribâ (from now onward) if you are
(really) believers. And if you do not do it, then take a notice of
war from Allâh and His Messenger but if you repent, you shall
have your capital sums. Deal not unjustly (by asking more than
your capital sums), and you shall not be dealt with unjustly (by
needy will be saved from incurring huge interests, while
encouraging the wealthy not to rely on Riba. Also, Riba
receiving less than your capital sums)}[2:278-279]. Further, al-
Bukhari and Muslim reported that Abu Hurairah, may Allah be
pleased with him, said,
“Allah's Messenger salla allahu `alaihi wa-sallam said, ‘Avoid
the seven great destructive sins.’ The people inquired, ‘O,
Allah's Apostle! What are they?’ He said, ‘To join others in
worship along with Allah, to practice sorcery, to kill the life
which Allah has forbidden except for a just cause (according to
Islamic Law), to eat up Riba (usury), to eat up an orphan's
wealth, to give back to the enemy and fleeing from the battlefield
at the time of fighting, and to accuse, chaste women, who never
even think of anything touching chastity and are good
believers.’” Also, ibn Majah narrated that Abu Hurairah, may
Allah be pleased with him, reported that Allah's Apostle, peace
be upon him, said,
“Riba is seventy types, the least of which equals one having
sexual intercourse wit his own mother!”]
leads to abandoning establishing various beneficial projects
and industries17.
Afterwards, the writer uttered a baseless, false claim
that, “People need banks and various banking transactions,
as their livelihood depends on them…”
benefit from allowing the current types of Riba transactions
by comparing them to as-Salam transactions. As-Salam
type of transactions was allowed because Allah allowed it,
a fact that demonstrates the greatness of the Islamic
legislation that aims to benefit the Muslim Ummah at large.
Further, Allah restricted the Salam type of transactions in a
way that made it different from the disallowed types of
business transactions. As-Salam entails the promise of
delivering a certain good with known characteristics on a
certain future date, but the profit is paid on the spot. Both
the seller and the buyer share in the benefit of As-Salam:
the seller benefits from the price to spend on his current
needs, and the buyer benefits from the Salam when he
receives it since he bought it for a lesser price. Hence, both
parties to the Salam transaction gain a benefit, none of them
is harmed in any way, as there is no Riba (usury, addition,
or interest) in this case, and finally, no goods with an
unknown quality are being sold. As for the Riba
transactions, they involve a certain addition to the principal
with the payment differed, or bartering goods for a larger
amount of the same type of good. Allah, the Most Wise,
Who legislates what brings all types of benefits to Muslims,
made Riba transactions a major sin16. Consequently, the
{Those who eat Ribâ will not stand (on the Day of Resurrection)
except like the standing of a person beaten by Shaitân (Satan)
leading him to insanity. That is because they say: “Trading is
only like Ribâ,” whereas Allâh has permitted trading and
forbidden Ribâ. So whosoever receives an admonition from his
Lord and stops eating Ribâ, shall not be punished for the past;
his case is for Allâh (to judge); but whoever returns (to Ribâ),
such are the dwellers of the Fire — they will abide
therein}[2:275]. Al-Bukhari reported, without a chain of
narration, that `Abdullah ibn `Abbas, may Allah be pleased with
him, said that the last Ayah to be revealed to Allah's Messenger,
salla allahu `alaihi wa-sallam, was this Ayah,
{O, you who believe! Be afraid of Allâh and give up what
remains (due to you) from Ribâ (from now onward) if you are
(really) believers. And if you do not do it, then take a notice of
war from Allâh and His Messenger but if you repent, you shall
have your capital sums. Deal not unjustly (by asking more than
your capital sums), and you shall not be dealt with unjustly (by
needy will be saved from incurring huge interests, while
encouraging the wealthy not to rely on Riba. Also, Riba
receiving less than your capital sums)}[2:278-279]. Further, al-
Bukhari and Muslim reported that Abu Hurairah, may Allah be
pleased with him, said,
“Allah's Messenger salla allahu `alaihi wa-sallam said, ‘Avoid
the seven great destructive sins.’ The people inquired, ‘O,
Allah's Apostle! What are they?’ He said, ‘To join others in
worship along with Allah, to practice sorcery, to kill the life
which Allah has forbidden except for a just cause (according to
Islamic Law), to eat up Riba (usury), to eat up an orphan's
wealth, to give back to the enemy and fleeing from the battlefield
at the time of fighting, and to accuse, chaste women, who never
even think of anything touching chastity and are good
believers.’” Also, ibn Majah narrated that Abu Hurairah, may
Allah be pleased with him, reported that Allah's Apostle, peace
be upon him, said,
“Riba is seventy types, the least of which equals one having
sexual intercourse wit his own mother!”]
leads to abandoning establishing various beneficial projects
and industries17.
Afterwards, the writer uttered a baseless, false claim
that, “People need banks and various banking transactions,
as their livelihood depends on them…”
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